CBSE BoardEnglish MediumSTD 11 CommerceAccountRecording of Transactions - 11 Mark
MCQ
When Accounts in the ledger are balanced?
A
Daily
B
Weekly
C
Monthly
✓
Yearly
✓
Answer
Correct option: D.
Yearly
The ledger account are periodically balanced at the end of the accounting period, with the object of ascertaining the net position of each amount.
Balancing of an account means that two sides are totalled and the difference between them is shown on the side, which is shorter in order to make their totals equal.
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